Palo Alto Networks, Inc. (NYSE:PANW)‘s stock had its “outperform” rating reaffirmed by equities researchers at Oppenheimer Holdings, Inc. in a research note issued to investors on Monday. They currently have a $173.00 price objective on the network technology company’s stock. Oppenheimer Holdings, Inc.’s price target indicates a potential upside of 34.49% from the stock’s current price.

PANW has been the subject of a number of other reports. UBS AG reissued a “neutral” rating and issued a $140.00 price target (up from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Evercore ISI set a $140.00 price target on shares of Palo Alto Networks and gave the company a “hold” rating in a report on Saturday, June 17th. ValuEngine raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub raised shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Piper Jaffray Companies set a $146.00 price target on shares of Palo Alto Networks and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $150.70.

Palo Alto Networks (NYSE:PANW) opened at 128.63 on Monday. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $165.69. The firm’s market capitalization is $11.81 billion. The company has a 50 day moving average price of $134.20 and a 200-day moving average price of $127.24.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. Equities analysts predict that Palo Alto Networks will post $2.59 earnings per share for the current year.

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In other news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the sale, the director now directly owns 271,645 shares in the company, valued at $37,478,860.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in PANW. Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 3.6% in the second quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock worth $971,738,000 after buying an additional 254,836 shares during the period. Renaissance Technologies LLC raised its stake in shares of Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock worth $242,578,000 after buying an additional 307,800 shares during the period. Clearbridge Investments LLC raised its stake in shares of Palo Alto Networks by 11.3% in the first quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock worth $212,753,000 after buying an additional 191,475 shares during the period. American Century Companies Inc. raised its stake in shares of Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock worth $233,811,000 after buying an additional 1,462,162 shares during the period. Finally, CI Global Investments Inc. raised its stake in shares of Palo Alto Networks by 2.4% in the second quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock worth $216,483,000 after buying an additional 37,597 shares during the period. Institutional investors own 77.05% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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